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Spruce Power Holding (SPRU) AI Stock Analysis
Spruce Power Holding
(NYSE:SPRU)
The overall score is heavily pressured by a fragile financial position, marked by high leverage and weak cash generation, and a bearish technical trend with the stock trading below all major moving averages. While operational efficiency shows early signs of improvement, persistent net losses and a negative P/E ratio underscore the lack of profitability. A recent corporate governance update provides a slight positive offset but does not mitigate the primary risks.
Spruce Power Holding (SPRU) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $25.03M
- Dividend Yield
- ―
- Average Volume (3M)
- 107.74K
- Price to Earnings (P/E)
- -3.1
- Beta (1Y)
- 1.24
- Revenue Growth
- 9.77%
- EPS Growth
- 90.31%
- Country
- US
- Employees
- 159
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Solar
Spruce Power Holding Business Overview & Revenue Model
Company Description
Spruce Power Holding Corporation owns and operates distributed solar energy assets in the United States. The company offers electricity for homeowners through subscription-based payments and solar renewable energy credits (SRECs) for contracted price...
How the Company Makes Money
Spruce Power primarily makes money from cash flows generated by residential solar systems it owns and operates under long-term customer contracts. Key revenue streams typically include: (1) recurring customer payments under legacy residential solar a...
Spruce Power Holding Earnings Call Summary
The call emphasized meaningful operational progress: strong margin expansion, large reductions in O&M and SG&A, a 49% increase in operating EBITDA, and a materially improved net loss, supported by a stable customer base and a solid cash balance. Offsetting these positives are a slight year-over-year revenue decline driven by weather, lower noncash amortization and customer buyouts, a going concern disclosure tied to the near‑term maturity classification of the SP1 facility, and substantial outstanding debt that requires successful refinancing. Management has secured an SP1 extension and is actively pursuing refinancing, which partially mitigates financing risk but leaves execution uncertainty. Overall, operational and profitability improvements are significant and appear to outweigh the financing and timing headwinds noted.
Q1-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management said its full‑year 2026 outlook remains generally consistent with prior expectations and they expect full‑year operating EBITDA to be in line with budget (Q1 operating EBITDA was $18.4M, +49% YoY), with lower Q1 O&M and collections being offset by higher servicing activity and collections in the second half; O&M is expected to increase sequentially through the year but remain generally in line with full‑year expectations (Q1 O&M $1.2M, down 70% YoY) and SG&A run‑rate should continue to improve (Q1 SG&A $11.6M, down 21% YoY). They continue to advance refinancing initiatives—SP1 maturity extended to October 2026 with a potential extension to January 2027 pending a signed term sheet—and highlighted liquidity and balance sheet metrics of $85.6M total cash (≈$50M unrestricted), $668M total debt with a blended interest rate of ~6.6% (including hedges), $8.2M of debt repaid in the quarter, and a contracted customer base of ~84,000.
Spruce Power Holding Financial Statement Overview
Summary
Financial performance is mixed. Improving gross margins and a return to positive operating profit are offset by persistent net losses, stalled revenue growth, and a highly leveraged balance sheet with negligible cash flow relative to debt.
Income Statement
45NeutralBalance Sheet
20Very NegativeCash Flow
30Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 108.52M | 111.81M | 82.11M | 79.86M | 23.19M | 0 |
| Gross Profit | 71.49M | 72.91M | 42.13M | 42.05M | 13.24M | 0 |
| EBITDA | 68.48M | 55.47M | -8.56M | 1.03M | -34.82M | 53.29M |
| Net Income | -7.33M | -26.03M | -70.49M | -65.83M | -93.93M | 28.79M |
Balance Sheet | ||||||
| Total Assets | 818.40M | 837.27M | 898.48M | 895.02M | 895.90M | 393.22M |
| Cash, Cash Equivalents and Short-Term Investments | 44.66M | 54.84M | 72.80M | 141.35M | 240.14M | 351.68M |
| Total Debt | 667.23M | 681.89M | 711.07M | 625.68M | 503.01M | 241.00K |
| Total Liabilities | 695.48M | 716.02M | 752.33M | 680.35M | 606.93M | 31.41M |
| Stockholders Equity | 120.40M | 118.83M | 143.71M | 212.34M | 279.95M | 361.81M |
Cash Flow | ||||||
| Free Cash Flow | 67.00K | -3.75M | -42.16M | -34.16M | -63.49M | -52.13M |
| Operating Cash Flow | 104.00K | -3.53M | -41.81M | -33.66M | -63.49M | -48.49M |
| Investing Cash Flow | 28.82M | 24.78M | -101.41M | -16.73M | -29.01M | -14.83M |
| Financing Cash Flow | -37.84M | -37.25M | 79.43M | -16.81M | -19.19M | 85.36M |
Spruce Power Holding Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPRU, the sentiment is Negative. The current price of 1.30 is below the 20-day moving average (MA) of 1.42, below the 50-day MA of 1.66, and below the 200-day MA of 3.00, indicating a bearish trend. The MACD of -0.11 indicates Negative momentum. The RSI at 30.56 is Neutral, neither overbought nor oversold. The STOCH value of 23.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SPRU.
Spruce Power Holding Risk Analysis
Spruce Power Holding disclosed 1 risk factors in its most recent earnings report. Spruce Power Holding reported the most risks in the "Legal & Regulatory" category.
Latest Risks Added
0 New RisksSpruce Power Holding Peers Comparison
Overall Rating
TURB54Neutral
SMXT45Neutral- SPRU43Neutral
BEEM42Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
| TURB | 54Neutral | $10.69M | 3.54 | 12.90% | ― | 209.90% | ― |
| SMXT | 45Neutral | $22.38M | -2.30 | 62.85% | ― | 284.69% | 60.47% |
| SPRU | 43Neutral | $25.03M | -3.10 | -6.09% | ― | 9.77% | 90.31% |
| BEEM | 42Neutral | $19.50M | -0.93 | -73.59% | ― | -20.49% | 43.15% |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SPRU | Spruce Power Holding Corporation | 1.32 | -1.35 | -50.56% | |
| BEEM | Beam Global | 0.81 | -1.45 | -64.38% | |
| TURB | Turbo Energy, S.A. Sponsored ADR | 0.81 | -2.30 | -73.92% | |
| SMXT | SolarMax Technology, Inc. | 4.20 | -7.02 | -62.58% |
Spruce Power Holding Corporate Events
Spruce Power Shifts Corporate Domicile From Delaware to Texas
NeutralSpruce Power Holding Corporation is changing its state of incorporation from Delaware to Texas, a redomiciliation approved by its board on May 1, 2026 and by approximately 86% of shareholders at the reconvened annual meeting on August 25, 2026. The c...
Spruce Power Board Changes Highlight Major Shareholder Influence
NeutralOn September 10, 2026, Spruce Power director Clara Nagy McBane submitted her resignation from the board, contingent on agreement over the treatment of her outstanding equity awards and confirmation of ongoing indemnification and directors and officer...
Spruce Power Shareholders Approve Directors, Redomiciling to Texas
PositiveOn August 25, 2026, Spruce Power reconvened its 2026 annual meeting of stockholders, originally convened on August 11 and adjourned after shareholders approved a proposal to postpone the session. At the reconvened meeting, investors elected two Class...
Spruce Power Adjourns 2026 Annual Shareholder Meeting
NeutralOn August 11, 2026, Spruce Power Holding Corporation held its 2026 annual meeting of stockholders, where shareholders approved a proposal allowing the meeting to be adjourned if necessary. With 11,832,946 votes in favor and 890,184 against, the compa...
Spruce Power Announces Major Legal Leadership Transition
NeutralSpruce Power Holding Corporation has appointed Bobby L. Owens as General Counsel, effective July 13, 2026, reflecting a leadership change in the company’s legal function. Owens brings extensive experience from prior roles at OXEA Corporation an...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 17, 2026